Aclaris Therapeutics, Inc. $ACRS Shares Bought by Braidwell LP

Key Points

• Braidwell LP increased its Aclaris Therapeutics stake by 26.1% in the second quarter, purchasing 443,232 additional shares to reach 2.14 million shares, or 1.53% of the company.
• Institutional ownership remains high at 98.34%, with BlackRock, Millennium Management, Geode Capital and others also building positions.
• Aclaris reported a quarterly loss of $0.15 per share, slightly better than estimates, while revenue of $1.63 million exceeded forecasts. Analysts maintain a consensus “Buy” rating with an $11.33 price target, compared with a recent share price of $6.18.

Braidwell LP raised its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 26.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,142,348 shares of the biotechnology company's stock after purchasing an additional 443,232 shares during the quarter. Braidwell LP owned 1.53% of Aclaris Therapeutics worth $11,333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth $53,096,000. Rock Springs Capital Management LP increased its stake in shares of Aclaris Therapeutics by 0.4% during the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company's stock worth $16,772,000 after acquiring an additional 18,909 shares during the period. Millennium Management LLC raised its holdings in Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company's stock worth $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Geode Capital Management LLC raised its holdings in Aclaris Therapeutics by 108.4% during the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company's stock worth $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, Kalehua Capital Management LLC acquired a new stake in Aclaris Therapeutics in the first quarter valued at about $6,871,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $6.18 on Thursday. The firm has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $4.64. Aclaris Therapeutics, Inc. has a 1-year low of $1.74 and a 1-year high of $6.60. The stock has a market cap of $864.09 million, a price-to-earnings ratio of -10.66 and a beta of 0.79.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. On average, equities analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACRS. Wall Street Zen raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price objective for the company. Finally, Canaccord Genuity Group assumed coverage on Aclaris Therapeutics in a report on Tuesday. They issued a "buy" rating and a $10.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $11.33.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc NASDAQ: ACRS is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company's pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.

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